Martin Shkreli fired as CEO of KaloBios Pharmaceuticals

“In summary, Mr Shkreli expects to be fully vindicated”.

The Securities and Exchange Commission has also charged Shkreli with defrauding investors in MSMB to hide poor investment choices, and of siphoning money from the fund for his own purposes. The allegations brought against him include using money from Retrophin, his first pharmaceutical company, to settle his debts related to his hedge fund and investors, and duping his investors in hedge funds.

The South San Francisco, California, company said in a statement that it terminated Shkreli as its CEO last Thursday and that he resigned from its board of directors then.

Former pharmaceutical executive Martin Shkreli has been very active online after his arrest on fraud charges.

He has since been bailed after posting $5 million, and has entered a not guilty plea for the charges. Turing was at the center of the controversy that led to Shkreli’s nationwide infamy as the company purchased the rights to Daraprim and then promptly spiked its price by 5,000%. The medication is used to treat toxoplasmosis, a parasitic disease that afflicts people with compromised immune systems, such as pregnant women and individuals afflicted with AIDS.

Shkreli was already widely reviled because a different drug company he founded, Turing Pharmaceuticals, raised the price of a life-saving drug from Dollars 13.50 to USD 750 per pill.

“That seems like a real injustice”, he told the Wall Street Journal, adding that he took offense at the U.S. Attorney referencing his actions as a “Ponzi-like scheme”.

Meanwhile, Shkreli’s Twitter account was hacked Sunday. “Willing to donate hundreds of thousands to charities before I got to prison…” read another.

On Monday, the publicly traded KaloBios Pharmaceuticals announced that Shkreli was out as chief executive and had resigned from the company’s board. Shkreli had gained control of the company in November.

Referring to the individuals as “10-year-olds”, Shkreli blasted the cyber-pirates after they posted a series of expletive-laden messages – which mocked the millionaire for not only raising the price of Daraprim, but boasting about his riches in the months that followed. KaloBios shares plunged 53 percent on Friday before trading was halted.